Deeper but shorter hit to global growth than Sars: StanChart

Singapore

DUE to the fast-spreading novel coronavirus, economists at Standard Chartered Bank expect the global economy to undergo a deeper, but shorter-lived downturn in the early months of 2020 relative to 2003's Sars epidemic.

Standard Chartered's chief global economist David Mann and Asia economist Jonathan Koh said it is likely to be the case given the severity of the measures imposed by the authorities aimed at containing the virus.

"Both the Chinese and global authorities have taken resolute measures to contain the virus, which may result in a greater economic impact near-term but also shorten the period of the virus' rapid spread, resulting in a shorter downturn. We expect a sharper but shorter g…